KITCHENER, ON, Aug. 12 /CNW/ - Electrohome Limited announced today that
the Ontario Superior Court of Justice has authorized the company to hold a
special meeting of its shareholders on September 11, 2008 to approve a Plan of
On August 5, 2008, Electrohome announced a plan for the orderly wind-up
of the Corporation pursuant to a court supervised Plan of Arrangement. The
Plan of Arrangement proposed by the Corporation under the Business
Corporations Act (Ontario) provides an expeditious and efficient way for the
Corporation to sell its remaining assets, satisfy its outstanding obligations
and maximize the amount of residual proceeds that can be distributed to its
shareholders prior to the dissolution of the Corporation, all in an orderly
fashion within a condensed and finite timeframe under the supervision of the
The record date for the special meeting has been set at August 11, 2008.
The formal notice of the special meeting and the management information
circular and proxy statement contain a detailed description of the proposed
Plan of Arrangement and outline the actions to be taken at the special
meeting. These materials will be mailed to all shareholders of record on
August 18, 2008.
Additional information pertaining to the Corporation's regulatory filings
including annual reports, annual information forms, management information
circulars, etc. can be found on the SEDAR website at www.sedar.com.
TSX Venture Exchange has not reviewed and does not take responsibility
for the adequacy or accuracy of this release.
For further information:
For further information: John A. Pollock, Chairman and Chief Executive
Officer at (519) 749-3182; or Gary Dumoulin, Vice-President and Secretary at